Artificial intelligence is used in a host of algorithms in medicine, banking and other major industries. But as it has proliferated, studies have shown that AI can be biased against people of color.
A new bill would require AI developers to evaluate privacy risks, assess the potential for discriminatory decisions and the state’s Department of Technology would need to approve the software before its use in the public sector.
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Programmers, Lawmakers Want AI to Eliminate Bias, Not Promote It
Community activist Ashton P. Woods checks his phone in a Houston neighborhood. A Dallas-area entrepreneur has developed a housing assistance app that he hopes will use artificial intelligence to connect renters and help them avoid discriminatory practices. Artificial intelligence can provide racially biased results, but some states are considering legislation to address the problem.
David J. Phillip
The Associated Press
DALLAS When software engineer Bejoy Narayana was developing Bob.ai, an application to help automate Dallas-Fort Worth’s Section 8 voucher program, he stopped and asked himself, ‘‘Could this system be used to help some people more than others?”
theGrio s April Ryan presses Biden about U S apology for Tulsa Massacre thegrio.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thegrio.com Daily Mail and Mail on Sunday newspapers.
Updates from recent U.S. House Committee on Financial Services hearing and proposed legislation
TAKEAWAY
In light of recent Congressional hearings and proposed legislation, market participants should remain vigilant and prepared for future regulatory modifications.
As previously noted in Pillsbury’s earlier article, one factor that has contributed to the rise in SPACtivity has been the availability to SPACs of certain features unavailable to companies going public through traditional IPOs, most notably the Private Securities Litigation Reform Act (PSLRA) safe harbor for forward-looking statements. On May 21, 2021, the U.S. House Committee on Financial Services released draft legislation to amend the Securities Act of 1933 (the Securities Act) and the Securities Exchange Act of 1934 (the Exchange Act) to exclude all SPACs from the safe harbor. Section 27A of the Securities Act and Section 21E of the Exchange Act currently exclude from the safe harbor forward-looking statements ma